Ferguson Enterprises Inc. closed its fiscal year with solid gains in sales and profit in the fourth quarter and outlined plans to shift its reporting calendar to better align with its busiest selling season.
The HVAC and waterworks plumbing distributor posted fourth-quarter sales of $8.50 billion, up 6.9% from $7.95 billion a year earlier. Net income rose to $3.55 per diluted share, an increase of 59% from $2.23, while operating profit climbed 14% to $925 million from $811 million.
Sales in the U.S. rose 7.1% to $8.06 billion, driven by strong demand in nonresidential markets, while residential sales were flat. Sales in Canada increased 4.8% to $438 million. Ferguson completed four acquisitions during the quarter, expanding its presence in HVAC, plumbing, and water metering.
For the full fiscal year ending July 31, Ferguson reported sales of $30.76 billion, up 3.8% from $29.64 billion last year. Net income increased to $9.32 per diluted share, up 9.3% from $8.53, while operating profit slipped 1.7% to $2.61 billion from $2.65 billion. Adjusted operating profit rose 0.6% to $2.84 billion. The company generated $1.9 billion in operating cash flow and invested $301 million in nine acquisitions.
Chief executive officer Kevin Murphy said the company delivered “strong results to finish the year” despite a challenging market environment. He said the shift to a calendar-year schedule will help employees stay focused on customers during peak demand.
Ferguson will report results for a five-month transition period from Aug. 1 to Dec. 31, 2025, before adopting a calendar-year reporting cycle starting in 2026. The company expects mid-single-digit revenue growth and an adjusted operating margin of 9.2% to 9.6% for calendar 2025, compared with 9.1% in 2024.
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